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Gold price is consolidating above the $2,600 support zone. Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a recovery wave from the $2,610 zone against the US Dollar. A key bearish trend line is forming with resistance at $2,650 on […]

The post Gold Consolidates While WTI Crude Oil Faces Continued Struggles appeared first on Action Forex.

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24/04/2024

Dollar Pullback from Overbought Territory Boosts Appeal

The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before. Yesterday’s pullback more closely resembles the start of broader profit-taking than a reversal of the dollar’s upward trend since early March. The […]
18/01/2024

Aussie Stems the Bleeding

The Australian dollar has stablilized after a nasty tumble this week. In the European session, AUD/USD is trading at 0.6555, up 0.06%. The Aussie ignored a weak employment report which showed job growth plunged by 65,100 in December. The unemployment rate remained steady at 3.9%. Risk appetite, China weighing on Aussie The US dollar looked […]
17/06/2024

USD/JPY: Bulls Hold Grip for Retest of Pivotal Fibo Barrier

USDJPY firmed further on Monday and partially offset warning from long upper shadow of Friday’s daily candle, as fresh strength looks for retest of pivotal Fibo resistance at 158.22 (76.4% of 160.19/151.85) which capped Friday’s rally. Firm break here to open way towards targets at 160.00/19 (psychological/2024 high, posted on Apr 29). Technical picture on […]